{"id":136059,"date":"2023-04-24T13:00:02","date_gmt":"2023-04-24T06:00:02","guid":{"rendered":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/we-want-to-buy-a-seaside-flat-as-a-second-home-what-type-of-mortgage-is-best\/"},"modified":"2023-04-24T13:09:19","modified_gmt":"2023-04-24T06:09:19","slug":"we-want-to-buy-a-seaside-flat-as-a-second-home-what-type-of-mortgage-is-best","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/we-want-to-buy-a-seaside-flat-as-a-second-home-what-type-of-mortgage-is-best\/","title":{"rendered":"We want to buy a seaside flat as a second home. What type of mortgage is best?"},"content":{"rendered":"


\nMy partner and I \u2013 he is a first-time buyer \u2013 would use the property at weekends and for holiday letsQ My partner and I are buying a second home to use as a holiday home. He\u2019s a first-time buyer but I\u2019m not as I own the flat that we currently live in. We are hoping to buy a flat at the Kent seaside to be used as a holiday home for ourselves \u2013 think Monday to Friday in London, then the weekends by the sea \u2013 and potentially rent it out as a furnished holiday let when we\u2019re not using it. We\u2019re not looking to have it as a big source of income but just to potentially offset some of the costs of having a second home. Where I\u2019m having trouble is deciding what type of mortgage to get. Residential mortgages don\u2019t allow even short-term lets and buy-to-lets don\u2019t allow you to live there. For tax purposes, we would not be letting it often enough to meet the furnished holiday let requirements, so would that mean a holiday let mortgage is not suitable either?ETA No, it doesn\u2019t mean that because a holiday let mortgage is exactly what you are looking for, according to unbiased.co.uk, which is the place to go to find an independent financial adviser. \u201cIf you want to buy a holiday home for yourself but also let it out when you are not using it, you need a holiday let mortgage,\u201d the website says. Although growing in popularity, holiday let mortgages are still something of a niche product available from fewer than 20 mortgage lenders. As with most niche mortgages, it makes sense to get the help of a whole-of-market mortgage broker who knows the lenders that offer the kind of holiday let mortgage suitable for you. Continue reading…
\n
\nSource : theguardian.com
\nRead more…We want to buy a seaside flat as a second home. What type of mortgage is best?<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

My partner and I \u2013 he is a first-time buyer \u2013 would use the property...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-136059","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-zov","jetpack-related-posts":[{"id":127080,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/should-i-sell-my-buy-to-let-flat-or-keep-it\/","url_meta":{"origin":136059,"position":0},"title":"Should I sell my buy-to-let flat or keep it?","date":"June 20, 2022","format":false,"excerpt":"\r It has been a successful rental, but I\u2019ve hardly reduced the loan and I\u2019m worried about remortgagingQ In 2006 I bought a flat on the south coast. 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